include the
perquisite value represented by interest-free loans or loans at
concessional rates of interest, was also deleted along with the deletion ... question before the
court was whether notional interest calculated on interest-free loans
granted by the assessee company to its employee could be taken
from this reserve. 8. Under the existing provisions of the Act interest-free loans granted to the Board by the State Government are repayable ... financial liabilities of the Board, such loans are proposed to be treated on the same footing as interest-bearing loans advanced by the State Government
promoter company to advance interest-free loans upto the limit stated above and to advance further loan on interest at the rate ... under any legal obligation to provide such interest-free loan or loan at lower rate of interest from an anterior point of time. Therefore
represented by interest-free loans or loans at concessional rates of interest of employees. -
4.1 Employers often grant loans free of interest or on concessional ... borrowed loans by paying 15 per cent. interest and it advanced loans to its directors without any interest, to the extent of the interest
requested for interest free loan.
Plaintiff offered to provide the loan on the
condition that the defendants would return the
loan on completion ... interest. Defendants pleaded that the amount
paid on account of intended purchase of flat and
those advanced as interest free loan are two
separate
appellant representing alleged arm's length interest
on the interest-free loan granted by the appellant to ADSIL, no
corresponding deduction is allowed ... corresponding deduction of the alleged arm's length interest oil on the
interest free loan granted by the appellant in the hands of ADSIL
contribution. He has, however, treated these transactions partly as of an
interest free loan, for the period between the dates of payment till the date ... been treated as partly
of the nature of interest free loan on the ground that there has been a delay in
allotment of shares
made by AO on
account of interest paid on loans which were advanced interest free to subsidiaries of
the Assessee Company. (Ground No.1 raised ... appeal, that if there were funds available both
interest-free and overdraft and/or loans taken, then a presumption
would arise that investments would
from ICLS Ltd. from the same date. The AO noticed that interest-free loan of Rs. 50 lakhs was also advanced by the assessee ... same consideration itself had been returned by the assessee as interest-free loan a few days thereafter. The AO was of the opinion that
addition of Rs. 28,57,8977- made on account of interest on interest free loans advanced by the assessee company to its subsidiary companies ... assessee is paying interest on borrowed capital and also paying interest on capital of the partners, but having given interest free loan to a constituent
